The Stephan
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
-13.76-6.8210.4111.4612.1835.7114.0416.52126.80-59.88-36.9635.71
Price/Sales ratio
0.710.620.851.180.780.781.181.080.750.460.350.78
Price/Book Value ratio
1.481.442.092.521.791.832.291.220.980.640.471.83
Price/Cash Flow ratio
-3.56-2.3711.9013.0812.7820.84123.7765.3524.41828.3713.7912.78
Price/Free Cash Flow ratio
-3.36-2.2311.9413.5713.0426.88161.27161.2725.69-310.6315.0513.04
Price/Earnings Growth ratio
0.16-0.10-0.050.38-0.33-0.540.04-0.78-1.400.14-0.36-0.36
Dividend Yield
N/A6.03%8.66%5.93%8.56%4.41%N/AN/AN/A2.47%3.33%4.41%
Profitability Indicator Ratios
Gross Profit Margin
28.09%29.70%29.32%29.29%28.94%29.64%31.79%28.07%24.40%24.83%24.89%29.64%
Operating Profit Margin
-4.55%10.72%7.81%7.13%4.87%2.95%8.16%3.46%0.65%-0.61%-0.97%2.95%
Pretax Profit Margin
-4.54%-11.37%7.93%7.63%5.46%2.78%8.43%6.88%1.15%-3.66%-0.97%2.78%
Net Profit Margin
-5.15%-9.18%8.25%10.33%6.44%2.19%8.43%6.55%0.59%-0.78%-0.97%2.19%
Effective Tax Rate
-13.43%19.20%-3.96%-35.27%-17.99%21.31%N/A4.72%48.76%50.25%N/A-17.99%
Return on Assets
-7.12%-17.91%16.50%18.35%12.07%3.95%13.28%6.06%0.60%-0.85%-1.04%3.95%
Return On Equity
-10.77%-21.14%20.10%22.05%14.73%5.12%16.33%7.42%0.77%-1.07%-1.26%5.12%
Return on Capital Employed
-9.21%23.72%18.02%14.77%10.85%6.73%13.94%3.50%0.71%-0.72%-1.12%6.73%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A4.61N/A
Quick Ratio
1.943.292.521.330.830.472.251.192.061.722.130.83
Cash ratio
0.842.231.480.840.550.271.790.821.631.131.540.55
Days of Sales Outstanding
6.0710.168.3212.465.626.036.258.423.524.696.775.62
Days of Inventory outstanding
52.1449.7863.3967.8072.6584.45102.71139.39106.9097.6882.5172.65
Operating Cycle
58.2159.9471.7180.2778.2890.49108.97147.82110.43102.3789.2878.28
Days of Payables Outstanding
2.3514.1325.0530.1731.1641.3126.8746.2033.9730.6430.9641.31
Cash Conversion Cycle
55.8545.8146.6650.0947.1249.1882.10101.6176.4671.7258.3247.12
Debt Ratios
Debt Ratio
N/AN/AN/AN/AN/AN/A0.100.090.140.140.12N/A
Debt Equity Ratio
N/AN/AN/AN/AN/AN/A0.130.120.180.180.15N/A
Long-term Debt to Capitalization
N/AN/AN/AN/AN/AN/A0.110.100.160.110.13N/A
Total Debt to Capitalization
N/AN/AN/AN/AN/AN/A0.110.100.150.150.13N/A
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-5.26N/A
Cash Flow to Debt Ratio
N/AN/AN/AN/AN/AN/A0.130.150.210.000.22N/A
Company Equity Multiplier
1.511.181.211.201.221.291.221.221.281.241.241.22
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-0.19-0.260.070.090.060.030.000.010.030.000.020.03
Free Cash Flow / Operating Cash Flow Ratio
1.051.060.990.960.980.770.760.400.95-2.660.900.90
Cash Flow Coverage Ratio
N/AN/AN/AN/AN/AN/A0.130.150.210.000.22N/A
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/A-10.380.015.46N/A
Dividend Payout Ratio
N/A-41.16%90.22%68.10%104.33%157.81%N/AN/AN/A-148.19%-123%157.81%